Skip to comments.What Detroit crisis? Pension fund trustees hang out in Hawaii
Posted on 05/25/2013 10:07:47 AM PDT by dynachrome
The city of Detroit may be facing a deepening financial crisis but that hasn't stopped four trustees of its public pension funds from spending $22,000 of retirement system funds to attend a conference in Hawaii this week.
One well-attended session covered how to avoid front-page scandals. According to presenter Lydia Lee, a pension attorney from Oklahoma, the session touched on a topic familiar back in Detroit: The indictment this spring of two former city pension officials for an alleged $200 million bribery and kickback scheme, in a case that will come to trial next March.
(Excerpt) Read more at reuters.com ...
The mayor, the city council, and this emergency ‘czar’ of Detroit....have no control over the pension fund trustees. I was watching an interview where this was all explained. These trustees need to be removed, and based on the union business, and local political games....it’s virtually impossible. It’s pretty screwed up.
But on the positive side...Hawaii made $22k off the dimwits, and that helps Hawaii a little bit.
Another socialist success story!
Pray for America to Wake up
My grandfather always told me to never hang around with negative people and always think positive.
He would have liked you........